Biogen Inc.

BIIB Healthcare Drug Manufacturers General

Biogen Inc.’s revenue for fiscal 2025 (year ended December 2025) was $9.9 billion, up 2.22% from fiscal 2024. In the quarter to June 2026, revenue grew 3.42%, EPS fell 84.8%, free cash flow grew 103.3% and total debt rose 16.0%, each against the same quarter a year earlier. Member of the S&P 500; insiders bought in the last twelve months.

232.65 2.70 −1.15%
Market cap
$34.8B
P/E
41.0×
Fwd P/E
31.5×
Dividend yield
—
F-score
4/9
Altman Z
3.13
Beneish M
−2.67
Dividend safety
n/a
Dec '16 Dec '17 Dec '18 Dec '19 Dec '20 Dec '21 Dec '22 Dec '23 Dec '24 Dec '25
P/E ratio
17.21 28.01 13.91 9.41 9.99 23.00 12.99 33.34 13.63 19.93
Piotroski F-Score
5 5 7 6 6 5 5 4 6 4
Altman Z-Score
5.90 6.11 5.42 4.78 3.87 3.51 4.30 3.50 2.83 3.13
P/S ratio
5.56 5.79 4.58 3.86 2.93 3.26 3.89 3.94 2.30 2.61
P/FCF ratio
16.51 27.45 11.63 8.66 10.71 10.64 22.98 31.35 8.85 12.77
Altman Z″-Score (non-manufacturers)
6.37 6.14 5.90 5.56 4.87 4.57 6.14 4.67 4.78 5.67
Beneish M-Score
(2.48) (2.60) (2.59) (2.71) (2.56) (3.13) (1.99) (2.40) (2.86) (2.67)
P/Operating CF
40.27 46.79 32.53 28.32 (107.32) 42.67 (226.36) 3,099.01 29.26 50.37
P/B ratio
5.25 5.64 4.73 4.16 3.69 3.26 2.96 2.62 1.33 1.41
Price to Tangible BV
13.70 17.39 14.66 13.70 21.42 12.01 6.84 178.35 40.79 9.97
EV/Sales
5.71 5.97 4.76 3.86 3.29 3.48 4.03 4.52 2.53 2.86
EV/EBITDA
11.20 11.40 9.80 7.19 8.03 9.66 9.95 20.80 7.75 9.62
EV/Operating CF
14.24 16.10 10.35 7.84 10.45 10.51 29.62 28.75 8.50 12.82
EV/FCF
16.93 28.32 12.08 8.66 12.02 11.37 23.79 35.99 9.71 13.99
Quick Ratio
1.85 1.63 1.67 1.31 1.21 1.25 2.02 0.79 0.68 1.54
Current Ratio
2.55 2.34 2.32 1.72 1.84 1.83 2.99 2.00 1.35 2.68
Net Debt/EBITDA
0.28 0.35 0.37 0.00 0.87 0.62 0.34 2.68 0.69 0.84
Debt/Assets
28.47% 25.09% 23.47% 16.37% 30.16% 26.28% 25.58% 25.29% 16.21% 21.35%
Debt/Equity
0.54 0.47 0.46 0.33 0.69 0.57 0.47 0.46 0.27 0.34
Asset Turnover
0.54 0.53 0.55 0.55 0.52 0.45 0.42 0.38 0.35 0.34
Operating CF/Net income
1.24 1.79 1.40 1.20 1.06 2.34 0.45 1.33 1.76 1.71
Capex/Depreciation
(1.07) (1.82) (1.36) (0.98) (1.21) (0.25) 0.53 (0.59) (0.40) (0.17)
ROE
34.44% 20.54% 34.57% 44.66% 33.30% 14.38% 25.03% 8.24% 10.36% 7.39%
ROA
17.47% 10.91% 18.11% 22.42% 15.43% 6.42% 12.58% 4.52% 5.95% 4.50%
ROIC
23.42% 22.51% 23.85% 33.04% 20.35% 13.22% 14.73% 4.91% 7.44% 5.61%
Return on Tangible Assets
47.39% 33.03% 55.75% 87.04% 61.02% 22.31% 31.04% 17.24% 31.95% 14.89%
Average Days of Receivables
45.96 53.14 53.14 47.74 51.96 51.50 61.17 61.75 52.99 49.54
Research and Development Expense of Revenue
17.24% 18.36% 19.31% 15.86% 29.68% 22.78% 21.93% 24.86% 20.47% 17.98%
Selling, General and Administrative Expense of Revenue
17.00% 15.76% 15.66% 16.52% 18.63% 24.35% 23.63% 25.92% 24.84% 24.61%
Intangible Assets out of Total Assets
0.33 0.36 0.35 0.34 0.36 0.33 0.31 0.54 0.58 0.53
Share Based Compensation of Revenue
1.35% 1.04% 1.17% 1.27% 1.47% 2.17% 2.50% 2.69% 3.01% 2.94%
Graham Net Nets
(0.03) (0.04) (0.07) (0.10) (0.18) (0.14) (0.03) (0.13) (0.17) (0.09)
Graham Number
145.53 126.12 175.97 224.86 191.34 131.34 208.61 135.94 170.24 157.35
Earnings Yield
5.81% 3.57% 7.19% 10.62% 10.01% 4.35% 7.70% 3.00% 7.34% 5.02%
Free Cash Flow Yield
6.06% 3.64% 8.60% 11.54% 9.34% 9.40% 4.35% 3.19% 11.30% 7.83%
Revenue per Share
52.42 57.73 65.66 76.85 83.56 73.65 70.02 67.97 66.46 67.51
Operating CF per Share
21.00 21.41 30.20 37.83 26.29 24.41 9.53 10.69 19.75 15.05
Capex per Share
(3.33) (9.23) (4.32) (3.58) (3.43) (1.86) 2.34 (2.15) (2.47) (1.27)
Free Cash Flow per Share
17.67 12.17 25.87 34.25 22.86 22.56 11.86 8.54 17.28 13.78
Cash per Share
22.41 17.35 17.27 23.92 16.22 25.50 33.67 7.26 16.31 26.05
Shareholders Equity per Share
55.53 59.26 63.60 71.29 66.41 73.51 92.14 102.28 114.81 124.62
Interest Debt per Share
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Book value per Share
55.53 59.26 63.60 71.29 66.41 73.51 92.14 102.28 114.81 124.62
Free Cash Flow
3,859.50 2,588.20 5,301.60 6,409.10 3,678.00 3,363.00 1,723.70 1,235.80 2,515.70 2,019.20
Working Capital
5,312.30 4,505.10 4,345.70 3,518.00 3,144.90 3,558.30 6,518.40 3,425.00 1,928.00 5,624.70
Capital Expenditures
(727.70) (1,962.80) (886.10) (669.50) (551.80) (276.90) 339.40 (311.40) (359.80) (185.40)
Net Current Asset Value
(2,016.00) (3,181.20) (4,616.40) (5,513.40) (7,045.70) (5,061.10) (1,374.50) (5,186.10) (3,876.50) (2,208.60)
EV/EBIT
12.68 13.71 10.88 7.88 8.76 13.46 11.77 27.59 10.86 15.17
Capex to Sales
0.06 0.16 0.07 0.05 0.04 0.03 (0.03) 0.03 0.04 0.02
Price to Operating Income
12.37 13.29 10.47 7.88 7.81 12.59 11.37 24.03 9.90 13.85
Other line items
Depreciation/Fixed assets
0.27 0.34 0.18 0.21 0.13 0.33 0.19 0.16 0.28 0.35
Cash ROIC
16.40% 11.65% 23.56% 28.77% 17.75% 15.99% 7.02% 5.46% 10.64% 7.12%
Accounts Receivable Turnover
8.58 7.60 7.18 7.49 7.09 6.34 6.25 5.84 6.31 7.20
Accounts Payable Turnover
5.40 4.83 4.74 4.34 3.66 4.04 4.22 5.66 5.58 5.62
Inventory Turnover
1.56 1.71 1.98 2.26 1.93 1.74 1.69 1.31 0.93 1.04
Average Days of Payables
69.07 88.56 74.45 99.08 91.98 101.94 78.74 58.11 67.02 65.59
Days of Inventory on Hand
247.23 202.14 186.87 150.11 216.06 233.82 215.38 364.14 388.71 329.16
Average Receivables
1,334.30 1,614.30 1,872.75 1,919.50 1,897.15 1,731.60 1,627.20 1,684.55 1,534.45 1,373.60
Average Payables
273.60 337.65 383.00 450.65 492.85 522.05 540.35 447.40 413.75 428.10
Average Inventory
947.50 952.15 916.30 867.05 936.40 1,210.05 1,347.95 1,935.90 2,493.95 2,314.30
Average Assets
21,190.80 23,264.70 24,470.75 26,261.60 25,926.60 24,248.10 24,215.70 25,699.45 27,447.05 28,744.40
Average Common Equity
10,751.75 12,363.35 12,814.85 13,185.35 12,012.60 10,822.90 12,174.05 14,093.90 15,757.70 17,486.40

Fold the line items

Columns are period end dates